“The resolutions will severely affect economic activity”

The president of the industry association BDI considers the new corona restrictions to be “very painful” – but shows understanding for the decision of the politicians.

Dieter Kempf, President of the Federation of German Industries

Dhe German industry expects the renewed partial lockdown to have noticeable consequences for the economy. “The resolutions will have a major impact on economic activity and consumer sentiment in November,” commented the President of the Federation of German Industries, Dieter Kempf, on Thursday in Berlin. “Even if a complete lockdown is correctly ruled out, the measures will dampen the temporary economic recovery.”

Kempf described the serious cuts in public life, which were decided the day before by the federal and state governments, as “very painful”, but also expressed understanding for the measures: “Politicians are recognizable because economic activity is largely up and running and public institutions are open to keep. The exponential development of the infections must be broken, otherwise the health and economic consequences would be much worse in the near future. “

Similar to Kempf, the President of the Federal Association of German Volksbanks and Raiffeisenbanks, Marija Kolak, said: The measures “hit the German economy hard, but appear unavoidable in view of the sharp rise in the number of infections”.

The industry president pointed out that the measures would hit individual parts of the economy particularly hard. He named smaller tradespeople, self-employed people, event management and gastronomy. “That is why the planned review in two weeks is so important in order to adapt measures and possibly facilitate them in some areas.” It is important to “provide the affected companies with liquidity as quickly as possible”. In addition to bridging aid, immediate tax relief is particularly important.